New Delhi, Aug. 20 -- Databricks, the Data and AI company, today announced it has signed a term sheet for its Series K round, which it expects to close soon with backing from existing investors. This funding values the company at >$100 billion.

The company expects to use the new capital to accelerate its AI strategy-expanding Agent Bricks, investing in its new database offering Lakebase, and fueling global growth. At the June Data + AI Summit, Databricks introduced a new product, Agent Bricks, which builds high-quality, production AI agents optimized on enterprise data, and Lakebase, a new type of operational database (OLTP), built on open source Postgres, and optimized for AI Agents. The investment is also expected to support future AI ...